Markets Eye Positive Opening Amid Global Cues and Strong DII Support
On Friday, June 6, both foreign and domestic investors remained net buyers. FIIs picked up equities worth Rs 1,009.71 crore, while DIIs were significantly more active, purchasing stocks worth Rs 9,342.48 crore. Notably, DIIs have been net buyers for 14 consecutive sessions.
Pre-Market Update at 8:00 AM: Indian stock markets are expected to open on a firm note today, Thursday, June 5. At 7:24 AM, the GIFT Nifty was quoting around 24,173 — about 75 points higher than its previous close, hinting at a positive start.
Asian markets were trading in the green, mirroring Wall Street’s strong performance last week. The S&P 500 crossed the 6,000 mark for the first time since February, while the Dow Jones climbed to its highest level in three months.
This week, investors will be closely monitoring a mix of global developments and domestic indicators, including macroeconomic data, inflation trends, capital inflows, and trade-related policy updates.
On Friday, June 6, both foreign and domestic investors remained net buyers. FIIs picked up equities worth Rs 1,009.71 crore, while DIIs were significantly more active, purchasing stocks worth Rs 9,342.48 crore. Notably, DIIs have been net buyers for 14 consecutive sessions.
Markets reacted strongly to the central bank’s monetary easing, with the repo rate being cut by 50 basis points to 5.50 per cent and the cash reserve ratio (CRR) slashed by 100 basis points to 3 per cent. These measures led to a sharp rally. The Sensex gained 746.95 points to close at 82,188.99, and the Nifty 50 advanced by 252.15 points to finish at 25,003.05.
Asian indices were trading higher on Monday, ahead of scheduled trade talks between the U.S. and China in London. Japan’s Q1 GDP showed a lower-than-expected contraction of 0.2 per cent annualised, versus an earlier estimate of 0.7 per cent.
U.S. stocks ended the week on a strong note, supported by a robust jobs report. The Dow rose 442.88 points to 42,762.62, while the S&P 500 added 61.02 points to settle at 6,000.32. The Nasdaq advanced 231.50 points to 19,529.95, with tech giants such as Tesla, Amazon, Nvidia, Apple, and Alphabet posting gains.
Top-level trade discussions are set to take place in London, with U.S. representatives including Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick. China’s Vice Premier He Lifeng will lead the Chinese side in talks aimed at reducing trade tensions.
The U.S. added 139,000 jobs in May, slightly exceeding expectations, with the unemployment rate steady at 4.2 per cent.
Gold prices remained mostly flat, trading at Rs 97,170 per 10 grams in the spot market, while futures dipped by 0.8 per cent amid optimism over easing trade tensions.
Crude oil prices showed little movement ahead of the U.S.-China meeting, with Brent at USD 66.41 and WTI at USD 64.52 per barrel.
For today, Chambal Fertilisers, Manappuram Finance and Aditya Birla Fashion Retail continue to remain under the F&O ban list.
Disclaimer: The article is for informational purposes only and not investment advice.